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Let’s sit back and reflect…. With a little game of Jeopardy. IRA: Focus on the Future. IRA: Focus on the Future. Final Jeopardy. Please make your wagers now. - PowerPoint PPT Presentation
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Let’s sit back and reflect…
With a little game of
Jeopardy
IRA: Focus on the IRA: Focus on the FutureFuture
BasicsBasics TraditionalTraditional RothRoth CoverdellCoverdell FormsForms Hodge-Hodge-PodgePodge
$100 $100 $100 $100 $100 $100
$200 $200 $200 $200 $200 $200
$300 $300 $300 $300 $300 $300
$400 $400 $400 $400 $400 $400
$500 $500 $500 $500 $500 $500
$600 $600 $600 $600 $600 $600
IRA: Focus on the IRA: Focus on the FutureFuture
BasicsBasics TraditionalTraditional RothRoth CoverdellCoverdell FormsForms Hodge-Hodge-PodgePodge
$100 $100 $100 $100 $100 $100
$200 $200 $200 $200 $200 $200
$300 $300 $300 $300 $300 $300
$400 $400 $400 $400 $400 $400
$500 $500 $500 $500 $500 $500
$600 $600 $600 $600 $600 $600
Final Jeopardy
Please make your wagers now
Mr. Brown is 66 ½ working as a “greeter” at Wal-Mart part-time. He makes $7,000/year. How much can Mr. Brown contribute for the current year?
Final Jeopardy Answer
$6,000
Basics $100
What does IRA stand for
Basics $200
The three types of IRAs Safe 1 offers
Basics $300
Give tax information, not tax __________
Basics$400
The minimum amount a member can open an IRA with
Basics $500
Name 2 of the 3 ways IRA accounts benefits the credit union
Basics $600
The term used for the cut-off date for a previous year deposit
Traditional$100
Under normal circumstances, this is the earliest age you can withdraw penalty-free
Traditional$200
Under normal circumstances, at what age is a member required to take distribution
Traditional$300
This reason for penalty-free distribution begins with “D” and ends with a “Y”
Traditional$400
What does RMD stand for
Traditional$500
What year was the Traditional IRA established?
Traditional $600
10% and 1%
Roth$100
The biggest benefit for a member to open a Roth
Roth $200
$5,000 for 2008
Roth$300
Age when the member is required to take distributions
Roth$400
These can be withdrawn tax-free and penalty-free at any time
Roth $500
5 years and first-time home purchase
Roth$600
60 days/once in 12 months
Coverdell$100
ESA stands for
Coverdell $200
Maximum Annual Contribution amount
Coverdell$300
Under normal circumstances, this is the maximum age limit for contributions
Coverdell$400
Withdrawals are tax-free and penalty-free only for this type of expense
Coverdell$500
The term used for the person responsible to over-see the account
Coverdell$600
Under normal circumstances, this is the age that all funds must be disbursed by
Forms$100
Every branch has one of these that contains IRA originals
Forms$200
Our CUID
Forms$300
This document is used to type the information onto the application
Forms$400
The form required in order to open any IRA
Forms$500
This area must be signed if the primary beneficiary is not the spouse
Forms$600
Use this form if a member wants to move his/her IRA from KSFCU to Safe 1
Hodgepodge $100
She is our IRA Specialist
Hodgepodge $400
What was our name before Safe 1 Credit Union?
Hodgepodge $200
Safe 1’s Motto
Hodgepodge $300
Name 2 of the 4 people in the Operations Department
Hodgepodge $500
The number of directors that serve on the Board
Hodgepodge $600
This is Safe 1’s IRA Administrator
Daily Double!!!
A Parting Gift for the Contestants